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Use the information below to answer the following question(s) .
During the year, Cornell produced and sold 60,000 units of product at a sale price of $8.00 per unit. There was no beginning inventory of product at the start of the year.
-The Sage Group produces a single product selling for $60 per unit. Variable costs are $12 per unit and total fixed costs are $6,000. What is the contribution margin ratio?
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